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Overseas operations to play bigger role in Etisalat's growth
- United Arab Emirates: Sunday, September 27 - 2009 at 15:24
Strong growth in the Middle East and North Africa (MENA) broadband market, coupled with a slight decline in the UAE's mobile subscribers is pushing local telecom operators to look beyond traditional growth strategies. According to first half results of Etisalat, UAE operations accounts for more than 98% of Etisalat's profits and 90% of its revenues. The company is the second-largest operator in the MENA region by market capitalization. Etisalat lost 73,000 active mobile subscribers in the second quarter of this year, but Du, its competitor, added 156,000, increasing the latter's market share to almost 31%. Decline in subscriptions were offset by higher margins and average revenue per user figures for Etisalat. According to Informa Telecoms and Media (ITM), a London-based industry consultancy, the region's broadband market grew by 66% in 2008 to 4.8 million subscribers and is expected to grow by more than 60% by the end of this year. (Mac Capital Advisors)
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StaffSunday, September 27 - 2009 at 15:24 UAE local time (GMT+4)
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